SHANGHAI, Jan. 7, 2014 /PRNewswire/ -- Hanwha SolarOne Co., Ltd. (the "Company", or "Hanwha SolarOne"), a top-10 global photovoltaic manufacturer of high-quality, cost-competitive solar modules, today announced it has reached a memorandum of understanding ("MOU") with OneRoof Energy, a complete solar services provider, to supply up to 50 megawatts of Photovoltaic ("PV") modules. Hanwha SolarOne and OneRoof Energy intend to enter a supply agreement to establish a reliable supply of modules for OneRoof Energy, as well as to work together to identify and develop new and next generation products for the residential market that will enhance energy yield, improve bankability and increase residual value, and engage with downstream suppliers to improve PV system efficiencies and lower the levelized cost of energy to homeowners.
Mr. Min-Su Kim, President of Hanwha SolarOne commented, "OneRoof Energy is well positioned in the burgeoning residential rooftop financing market in the U.S. where in large markets like California, industry sources estimate about three-fourths of all solar installations were the result of third-party financing. Our high-quality, proven modules will play an important role in meeting OneRoof Energy's performance and product warranty customer guarantees."
"Hanwha SolarOne makes high-quality, reliable modules, but most importantly they offer our customers peace of mind that the panel manufacturer will be there to back the warranty for 12 years. The power of Hanwha is in their ability to deliver on that promise," stated David Field, President and Chief Executive Officer of OneRoof Energy.
About Hanwha SolarOne
Hanwha SolarOne Co., Ltd. (NASDAQ : HSOL ) is one of the top 10 photovoltaic module manufacturers in the world, providing cost-competitive, high quality PV modules. It is a flagship company of Hanwha Group, one of the largest business enterprises in South Korea. Hanwha SolarOne serves the utility, commercial, government and residential markets through a growing network of third-party distributors, OEM manufacturers and system integrators. The company maintains a strong presence worldwide, with a global business network spanning Europe, North America, Asia, South America, Africa and the Middle East. As a responsible company committed to sustainability, Hanwha SolarOne is an active member of the PV Cycle take-back and recycling program. For more information, please visit: www.hanwha-solarone.com.
About OneRoof Energy
OneRoof Energy is a complete solar services provider offering homeowners everything from the financing, system design and installation project management to ongoing system monitoring and maintenance. Through the use of its game-changing, proprietary solar sales and design software, it helps homeowners find a finance option that is best suited to their individual lifestyle and budget, including the zero-down lease option.
The company's signature, SolarSelect® leasing programs allow homeowners to go solar with nothing down, pay less on monthly electricity bills, and enjoy protection against utility rate hikes for up to 25 years. A seasoned management team of renewable energy and finance veterans with a proven track record of making energy independence a reality leads OneRoof Energy. Currently, the company serves homeowners throughout Arizona, California, and Hawaii with immediate plans for northeastern expansion. For more information, visit www.oneroofenergy.com.
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the quotations from management in this press release and the Company's operations and business outlook, contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding these and other risks is included in Hanwha SolarOne's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Except as required by law, the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Hanwha SolarOne has not independently verified any information in "About OneRoof Energy" or any other information regarding the market position of OneRoof Energy. Hanwha SolarOne makes no representations regarding the accuracy or completeness of any such information.
SOURCE Hanwha SolarOne Co., Ltd.